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a way to compromise and move forward on resolving the deficit problem. my feeling now is that it's not likely to be that simple. it's more likely to spill over into january. when that happens, we'll have a greater degree of uncertainty, not less. it may take longer to work this out than many people expect. indeed, president obama in an interview last week, mentioned that he thinks there will be a solution, a grand bargain, sometime in the first six months of 2013. six months. that's a long time to get this it problem straightened out. >> yeah, so, i mean, if we do get an agreement in six months, does that mean that the u.s. doesn't go into a recession? >> well, first i want to say the metaphor fiscal cliff is probably the wrong one. you step off a cliff, that's your last step. for many politicians, the real metaphor is it's a slope. they gradually go into these tax increases and spending cuts. they feel they can turn around and walk back up the slope, retroactively reverse the changes. in that circumstance, in that scenario, it creates a lot of uncertainty for businesses and for
on the impact of sandy on america's discussion about our debt and deficit. the latest hard numbers show over 8 million people are still without electricity across 18 states as we speak. many of those states densely populated in the united states. while this was a freak storm, it's demonstrated that when our outdated power grid is tested, it fails. now, of course, we cannot control such things as the weather, so let's focus on what we can control. how we can improve our infrastructure like our power grid. to me this storm and the massive power failure should be a clarion call to address our antiquated grid to better withstand such uncontrollable events and to do this, once again, it comes down to reining in the fast growing $16 trillion debt the united states is currently saddled with. that total growing by more than $1 trillion over year. that kind of burden on america, there is little wiggle room for unforeseen events such as hurricane sandy. and think about this. we managed to accumulate this debt and run an annual $1 trillion
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